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FG, Ogun To Finance Lagos-Ota- Abeokuta Expressway Reconstruction
FG, Ogun To Finance Lagos-Ota- Abeokuta Expressway Reconstruction
Sahara Weekly Reports That Respite is on the way for commuters plying the Lagos-Ota-Abeokuta Expressway as the Federal Government on Thursday proposed to jointly rehabilitate the road with the Ogun State government.
The proposal was made by the Minister of Works, Engr. Dave Umahi, during a courtesy call on Governor Dapo Abiodun in his office at Oke-Mosan, Abeokuta.
The minister was on a tour of federal roads in the Gateway State, along with officials of the ministry.
Umahi, while replying to Governor Abiodun on the frustration experienced by Ogun and Lagos states during the President Muhammadu Buhari administration to get the road done, disclosed that the period of bureaucracy in road construction in the country was over.
Umahi noted that if the Federal Government is looking for corporate organisations to get involved in road construction and management, state governments should not be denied the same opportunity.
He said: “Let me say something about the frustration you had while you and the Lagos State government wrote to take over the reconstruction of the Lagos-Ota-Abeokuta road. Let me announce to you that it falls under our new program, HDMI, which is the High Way Development Management Initiative. It is a public-private partnership programme.
“People should begin to look at a state as a corporate entity. If you are looking for investors to come and invest on our roads; to construct, to own, to maintain and toll, why shouldn’t a state do that?
“So, on this Lagos-Ota-Abeokuta road, I want us to work together, we’ve done 30% of the work. You can own 60%, we own 40% and you can do your portion of the 60%. You can give it to a contractor of your choice.
“I don’t believe in bureaucracy; we cannot reset the economy with the type of bureaucracy we have.
“If I get your request on this by WhatsApp, I will respond to you immediately. We will handle it under our HDMI.”
The minister spoke on some other federal roads in the state, with some of them under reconstruction. According to him, the Ikorodu-Sagamu remains about 8 kilometres to be completed, with the deadline for its completion set for November.
Other roads are the Abeokuta-Ajebo road at 21% completed, the overlay of the Ore-Sagamu portion of the Sagamu-Ore-Benin carriageway and the Papalanto to the Benin Republic border, being done by Dangote through the Tax Credit Scheme.
The Minister who also noted that the Federal Government under the leadership of President Bola Ahmed Tinubu is open to any state willing to have a Public Private Partnership programme (PPP) with them, said that the Federal Government is also planning to bring new security initiatives on the highways.
Umahi expressed appreciation to the Ogun State for its commitment to repairing roads in its domain, whether state or federal.
“In Ogun State, nobody is saying this is federal roads, this is state roads. When people are suffering, they don’t understand which one is which. Fix the roads and we can talk about who owns it. Anyone that is shouting and complaining is playing politics,” he said.
Addressing the entourage, Prince Abiodun recalled what he and his colleague in Lagos State, Babajide Sanwo-Olu went through getting the Federal Government’s permission to take over the reconstruction of the Lagos-Ota-Abeokuta Expressway.
He regretted that despite meeting some of the requirements by the Federal Government, the two states were frustrated, leading to further deterioration of the road.
He said: “I would like to highlight the Lagos-Ota-Abeokuta road, Ota is a city that has earned us the prestigious title of being the industrial capital of Nigeria. It is a city where we share boundaries with Lagos State and you can hardly tell the difference between Ota and Lagos State.
“That road, I think the contract must have been awarded maybe in 2012 or 2010 under the administration of President Obasanjo. Since then, the contract has been subjected to so many reviews.
“When I assumed office, Governor Sanwo-Olu and I went to see President Buhari and we wrote one letter on a joint letterhead requesting for that road to be transferred to us.
“We brought a letter from our bankers. At that point in time, it was probably about N70 billion, saying that this N70 billion that we want to put into the reconstruction of the road.
“Then, there was no Minister. We were told that because the road is under contract, what they would like to do is to partner with the states and we said okay, let us sit down, and discuss on the basis of the partnership.
“That road is about 77 kilometres, let us discuss the basis of that partnership, Your Excellency, we made no progress.”
The governor commended the Federal Government for bringing a new lease of life into the way and manner that approvals are given for road construction.
Abiodun expressed the hope that the Federal Government would help to fast-track the reconstruction of the Sagamu end of the Sagamu-Ore road.
“I am hoping that you will be able to help us fast track the construction of Sagamu-Ore road because we as a state government have continued to maintain that road, I am hoping you could use your good office to assist us in ensuring that the road is funded,” he said.
HOW YOUR PROPERTY PORTFOLIO SHOULD LOOK LIKE IN 2024 BY DENNIS ISONG
Sahara Weekly Reports That Today, we’re delving into the realm of real estate, specifically focusing on how your property portfolio should shape up in 2024.
Whether you’re a seasoned investor with a track record spanning five, ten, or just a couple of years, or if you’ve taken your initial steps into investing this year, this discussion is tailored to guide you through the nuances of crafting a property portfolio that aligns with the opportunities and challenges that the year 2024 holds.
It’s a practical example designed to offer insights regardless of your level of experience in the real estate journey. So, let’s embark on this insightful exploration together.
1. CASH FLOW REAL ESTATE
Real estate is like having money-making machines. You buy properties and they make you money regularly. There are three main ways they do this:
Rental Income:You can own a house or apartment and let someone else live there. They pay you rent every month, and that’s your income.
Short-Term Rentals:If you own a place in a cool location, you can rent it out for a short period, like a vacation home. People pay good money for short stays.
Equity-Based Returns:This is like having a share in a property. Even if you don’t own the whole thing, you still get a piece of the profit.
It’s like having different money streams – some from homes, some from businesses, and even some from farms.
2. LAND BANKING:
Imagine buying land like planting seeds for the future. Here’s how:
High-Yield: Some lands grow in value super fast. You buy low, and before you know it, it’s worth a lot more. Quick and exciting!
Joint Venture (JV): Team up with others to make something big. You have the land, they have the skills to build. Everyone wins.
Short-Flip:Buy land, hold it for a bit, and then sell it quickly for a profit. It’s like the fast lane of land investing.
It’s like being a smart farmer – planting seeds in different fields, each with its own strategy.
3.STRATEGIC POSITIONING
Think of real estate like playing a game of chess. You want to position your pieces (properties) in the right places:
High-End Zone: It’s like the VIP area. People pay big money to live or do business there. Eg Ikoyi
Student Zones: Where there are students, there’s always a need for housing. Universities and colleges are like gold mines for real estate.
Business Areas: If there are offices and companies, there’s a need for commercial spaces. Invest where the businesses are.
Upcoming Regions:Like predicting the next big thing. If you can spot an area on the rise, investing there can bring huge returns eg epe ,ibeju lekki
It’s like placing your chess pieces wisely on the board to win the game.
Let’s talk about addition tips that will help you;
PORTFOLIO MANAGEMENT:
Managing your real estate portfolio is like taking care of a garden:
Check Your Plants (Current Investments): See how your properties are doing. Are they growing well or need attention?
Balance Your Garden (Real Estate Types): Like having a mix of flowers, veggies, and fruits. Balance different types of real estate for the best results.
Get Professional Gardeners (Portfolio Managers): Sometimes, you need experts to help your garden flourish. Similarly, professionals can manage your portfolio for better outcomes.
It’s like having a beautiful garden that keeps growing and blooming.
LONG-TERM PLANNING:
Planning your real estate journey is like mapping out a trip:
Careful Analysis: Study the map and plan your route. Similarly, analyze your options and plan your investments.
Consider Different Stops (Cash Flow, Land, Positioning): Like planning where to rest and refuel, think about your cash flow, land investments, and where you position your properties.
Create a Roadmap:Plan for the long term, just like planning a road trip. Know where you want to go and how to get there.
It’s like having a well-thought-out plan, ensuring a smooth and successful journey in real estate.
So, as we wrap up our chat about building your property portfolio for 2024, remember, it’s like creating a map for your real estate journey. Whether you’ve been in the game for a while or you’re just starting out, the key is to mix things up – a bit of renting here, a piece of land there, and maybe even a joint venture.
Don’t forget to position your properties wisely, like chess pieces on a board.
Taking a closer look at your existing investments and balancing them out can lead to a portfolio that’s not just strong but also ready for whatever the real estate world throws your way.
Planning for the long term is like setting out on a road trip with a well-thought-out map – it may take time, but it’s worth it.
So, let’s get out there and turn those property dreams into reality. Unlock the door to your success in real estate – the keys are in your hands.
Happy investing!
Dennis Isong is a TOP REALTOR IN LAGOS.He Helps Nigerians in Diaspora to Own Property In Lagos Nigeria STRESS-FREE. For Questions WhatsApp/Call 2348164741041
France Based Nollywood Actress, Hannah Ojo Drops The Wedding Jitters On Birthday
Sahara Weekly Reports That France based Nollywood actress, Hannah Ojo is no doubt having a double celebration for her birthday anniversary this year.
The beautiful actress who’s celebrating her birthday tomorrow, October 19th is dropping a new project, a short movie she titled, The Wedding Jitters.
The Wedding Jitters, according to the producer, Hannah Ojo is a story of a bride-to-be-Laura whose gym-instructor-fiancé-Tony gets lost in a sexual fantasy to a half caste video vixen.
The story comes to roost when Laura catches her fiancé pants down with the video vixen.
The short movie, The Wedding Jitters stars notable Nollywood faces such as Joseph Momodu, Hannah Ojo, Age Anthony, MaryGold Adams and Zuhara Babatola; the short movie is billed for movie festivals.
Directed by one of Nollywood’s best hands, Febano Films and produced by actress Hannah Ojo, The Wedding Jitters hits the movie shelfs soon.
PRESIDENT TINUBU APPOINTS NEW PRESIDENTIAL MEDIA ADVISORY TEAM MEMBERS
Sahara Weekly Reports That President Bola Tinubu has approved the appointment of the following men and women to serve in the Office of the President under the Media & Publicity Directorate with full respect for the tenets of Nigeria’s federal character principle and the supremacy of merit:
(1) Mr. Fela Durotoye (Senior Special Assistant to the President — National Values & Social Justice)
(2) Mr. Fredrick Nwabufo (Senior Special Assistant to the President — Public Engagement)
(3) Mrs. Linda Nwabuwa Akhigbe (Senior Special Assistant to the President — Strategic Communications)
(4) Mr. Aliyu Audu (Special Assistant to the President — Public Affairs)
(5) Mr. Francis Adah Abah (Personal Assistant to the President — Special Duties)
President Tinubu has further approved the secondment of Mrs. Linda Nwabuwa Akhigbe to serve as the Communications Adviser to the President of the ECOWAS Commission.
The President tasks all new appointees who are serving in the Media & Publicity directorate to uphold the highest standards of decorum and decency in their engagements with all members of the public as they advance the President’s determined bid to renew the hope of Nigerians in a restructured economy and unified society that caters sufficiently to the needs of all, regardless of any differences.
Chief Ajuri Ngelale
Special Adviser to the President
(Media & Publicity)
October 9, 2023
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